Greek stocks surge as government presents its reform plans

The Athens stock index surged 7% at market open as investors
reacted to the new government's reform plans.

Greece sent a list of its economic reforms to the European
Commission, the European Central Bank and the International
Monetary Fund at midnight,
according to Reuters. The plans are expected to include
measure to clamp down on tax avoidance, tackle corruption, reform
the labour market to make it easier to hire and fire people and,
most importantly for the Greek government, to address the
country's humanitarian crisis.

Although the submission comes almost 24 hours later than the
government in Athens had initially pledged, it has nevertheless
sent Greek stocks rallying this morning on hopes that a deal on
an extension to the country's bailout programme is now in sight.